The Emirati royalty-backed Crypto Price Index platform (CPI) place in history as as the nation’s first Defi token will be assured, after seeing an unparalleled uptick in price barely a month after listing. The CPI token has increased in value by 23 times, reaching $115 from its starting value of $5, reflecting demand for the Gulf nation’s pioneering crypto index.
To give more access to users and meet relentless demand, the token has also been listed on more crypto exchanges.
Why Index Cryptocurrencies?
Any trader will say that one of the secrets behind good investments and profits is diversification. Putting all your eggs in one basket can be dangerous choice many veteran investors would advice against. As such, the more varied the investments, the better a chance that there will be lower risk of loss. As investments are further diversified, traders and investors can have a hard time keeping track of all the information and news for each asset that can affect their investments.
In a mature market where traditional assets and securities are bought and sold, there are a number of firms that provide indexing services where traders can view all the aggregated information from one source. Many similar attempts have been made for the crypto trading industry, but previous setups have always lacked professionalism. CPI is a blockchain platform that changes all this. With its indexing of the top 200 cryptocurrencies, it provides a single source of all the decision making information traders need.
The CPI team understood that without a proper backing of the platform, it would end up joining thousands of other projects that had successful launches and token distribution, only to see a mass sell off as investors cashed out for profits. To prevent this, CPI decided not to go through a public round of token sales and invited only large corporations or investors to back the platform. Each investor was only allowed to back the platform if they committed to locking their tokens for a predefined time in order to avoid any potential sell off.
One of the backers, the largest one, is none other than His Highness Sheikh Abdullah Bin Rashed Al Sharqi of UAE. The CPI concept was noticed by the Arab royalty earlier in 2019 and the prince put his financial weight behind the project, becoming its co-founder and the major shareholder.
New Heights and Exchange Listings
The financial power that His Highness brings to CPI, coupled with the locked-in investor tokens, have instilled confidence in traders around the world, helping them see the value that the project brings to their crypto trading industry. This is evident from the fact that the token has jumped 23 times in price since its listing on HotBit.
CPI brings even more accessibility to traders as it lists its token on three more exchanges, Bilaxy, BirForex and Digifinex. Token holders will be able access the indexing service through APIs and gain insight of the price movements of 200 cryptocurrencies. Powered with such information, traders will be able to protect their investment money and generate better profits.
To learn how top cryptocurrencies are indexed on the platform, check out the CPI website.